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Core-Mark Holding Q2 profit climbs 7.5% YOY

Core-Mark Holding Co. Inc. said its normalized net income for the second quarter amounted to 29 cents per share, compared with the S&P Capital IQ consensus estimate of 34 cents per share.

EPS increased 7.1% year over year from 27 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $13.4 million, an increase of 7.5% from $12.4 million in the year-earlier period.

The normalized profit margin fell to 0.6% from 0.6% in the year-earlier period.

Total revenue grew 8.3% year over year to $2.26 billion from $2.08 billion, and total operating expenses increased 8.3% year over year to $2.23 billion from $2.06 billion.

Reported net income increased 10.1% from the prior-year period to $13.3 million, or 28 cents per share, from $12.1 million, or 26 cents per share.